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Spain Golden Visa officially closed from April 2025

Posted on by quantri

The Spanish government has officially confirmed that it will close the Golden Visa program on April 3, 2025, ending the path to European residency for foreigners through Spanish real estate investment. For investors looking to become European permanent residents through the Spanish

Why did Spain close its Golden visa program?

The Spanish investment residency program allows foreign investors to receive a Golden visa and reside in Spain through the purchase and ownership of real estate worth at least 500,000 EUR or make other large investments such as purchasing government bonds, corporate shares or investment funds.

The program was issued by the Spanish government in 2013 with the main goal of attracting foreign investment and solving the economic crisis.

After more than 11 years of operation, on July 27, 2024, the Spanish Prime Minister announced the proposal to cancel the Golden Visa program. On January 3, 2025, the plan was officially approved with 179 votes in favor and 169 votes against.

The big reason why Spain decided to eliminate the golden visa line:

Real estate prices are rising

According to a report from the Spanish government, from 2013 to 2023, a total of 14,576 golden visas were issued, mostly to citizens of China, Russia, the UK, the US, Ukraine, etc. In Barcelona alone, 5.3% of annual home sales come from golden visa investments. Spanish Prime Minister Pedro Sanchez said that for every 100 golden visas issued, 94 visas are related to real estate investment.

The golden visa program has been blamed for the long-term skyrocketing of property prices in Spain, especially in major cities such as Barcelona, Madrid, Malaga, Alicante, the Balearic Islands and Valencia. This has made home ownership less accessible and unaffordable for many locals, while also increasing the risk of speculation and a housing bubble.

Concerns about security and financial risks

The Spanish government is concerned that the Golden Visa program could be used for money laundering, tax evasion or to carry out non-transparent financial activities that do not bring real value to the Spanish economy.

The government expects that the elimination of the Golden Visa program will bring positive impacts to the economy and society, helping to prevent real estate speculation, stabilize the real estate market, reduce pressure on housing, and create conditions for domestic people to be able to buy houses, especially in large urban areas.

However, closing the golden visa investment program completely could make Spanish real estate less attractive than necessary.

No more Spanish Golden Visa, how to get European permanent residency?

From 03.04.2025, foreign investors will no longer be able to apply for the Spanish Golden Visa. Investors who have missed the opportunity and have not yet applied should consider looking for alternative European settlement routes with equivalent benefits.

There are two options investors can consider right now:

Invest in Spain in other forms

Although the real estate investment form is being abolished, other investment options such as business investment, capital transfers or the start-up visa program will remain. This ensures that investors who make a positive contribution to the Spanish economy still have the opportunity to receive residency.

Apply for immigration to countries with equivalent welfare benefits

Many European settlement programs offer benefits equivalent to the Spanish Golden Visa, such as Malta settlement investment, Greece settlement investment, Cyprus settlement investment, etc.

  • Visa-free travel to up to 29 countries in the Schengen area, EU.

  • Access to advanced education and healthcare according to European standards.

  • Right to apply for citizenship when eligible.

  • Own real estate with diverse types of properties.

In particular, these European settlement programs often have very easy requirements for participation conditions such as:

  • No foreign language or education required

  • No investment experience required

  • No age limit

  • No residency required, or only very short residency of 1 day/2 years or 7 days/year.

  • No proof of funds (like the Greek Golden Visa program)

Spain is not the only country to abolish its Golden Visa program. Earlier in 2023, Portugal closed its Golden Visa program. Ireland also eliminated the program due to concerns about speculation and financial transparency.

It is likely that in the near future, other countries in the EU will also have changes in the direction of tightening investment policies in real estate to own a residence card or permanent residence. Therefore, investors need to fully prepare information, investment plans and submit applications as soon as possible to be able to enjoy the relatively favorable European settlement policies today.

Customers who are interested in the Spanish Golden Visa program but cannot submit their application before the deadline, please contact Doslink for advice on alternative settlement routes in livable countries such as Australia, Canada, USA, EU, etc.

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